Piper Sandler Companies (NYSE:PIPR) Receives Average Recommendation of “Moderate Buy” from Analysts

Piper Sandler Companies (NYSE:PIPR) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $95.3125.

A number of equities analysts recently issued reports on PIPR shares. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, February 24th. Wolfe Research reiterated an “outperform” rating and issued a $99.50 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. The Goldman Sachs Group reduced their price target on shares of Piper Sandler Companies from $115.25 to $98.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Finally, Northland Securities raised shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price objective on the stock in a report on Wednesday, March 4th.

Insider Activity

In other news, President Debbra L. Schoneman sold 20,960 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $87.75, for a total value of $1,839,187.60. Following the sale, the president owned 11,584 shares in the company, valued at $1,016,467.04. This represents a 64.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in PIPR. EverSource Wealth Advisors LLC lifted its stake in shares of Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Aster Capital Management DIFC Ltd raised its position in shares of Piper Sandler Companies by 1,440.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock worth $26,000 after acquiring an additional 72 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Piper Sandler Companies during the 4th quarter worth about $28,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Piper Sandler Companies during the 2nd quarter valued at about $31,000. Finally, Whittier Trust Co. purchased a new position in shares of Piper Sandler Companies in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Up 0.5%

PIPR stock opened at $74.90 on Friday. The firm has a 50 day moving average of $80.87 and a 200 day moving average of $83.85. The stock has a market capitalization of $5.34 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54. Piper Sandler Companies has a 52 week low of $50.73 and a 52 week high of $95.07.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.72 by $2.16. The business had revenue of $635.00 million for the quarter, compared to analyst estimates of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. Piper Sandler Companies’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS.

Piper Sandler Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $0.175 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 4.43%.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.